FTX fallout – pressnews

[ad_1] The Monetary Authority of Singapore defended its stance on Binance.com and collapsed crypto exchange FTX. The Monetary Authority of Singapore defended its stance on Binance.com and collapsed crypto exchange FTX, following criticisms about the differing treatment of the two firms since the regulator had previously alerted the public to Binance.com.The “clear difference” between the two was that Binance.com was “actively soliciting” users in the city-state, to the extent of offering listing in Singapore dollars among other incentives, while FTX was not, the MAS said in a statement on Monday. In response to “questions and misconceptions” that it was possible to protect local users who dealt with FTX, such as by ringfencing their assets or ensuring that FTX backed its assets with r...

[ad_1] Tether’s USDT token, the largest stablecoin by market value, veered off its dollar-peg on Thursday as market instability continued to roil the crypto sector and the issuer froze some coins in the wake of FTX’s collapse. Tether's USDT token, the largest stablecoin by market value, veered off its dollar-peg on Thursday as market instability continued to roil the crypto sector and the issuer froze some coins in the wake of FTX's collapse. USDT slipped as much as 4% to around 96 cents, according to pricing data available on Bloomberg. Other major stablecoins, including Circle's USDC, Binance's BUSD and MakerDAO's DAI, were broadly flat or trading at a slight premium. The issuer also sought to freeze a pile of USDT tokens, subject to an active investigation by law enforcement. ...

Tag: FTX fallout

Singapore Defends Itself Against Binance Stance Post FTX Fallout

Tether Price Dips Below $1 as FTX Fallout Continues to Roil Markets